Research

IHSG: A New Year A New Low?

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Algo Research Team

Market | Jan 05, 2023 | Views: 44

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Key Summary:

  • IHSG is down -3% in the first week of 2023
  • We are seeing some similarities between 2019 and 2022 in price chart movement
  • Why are we leaning to bearish? 5 points for thoughts

What a first week of 2023 it has been, with IHSG down -3% per today. If this is the appetizer to 2023, please close the restaurant cause we are not looking forward to the main course, even the dessert, no matter how sweet it is!


Food aside, what is going on with the market? This feels awfully similar to 2019-2020 (lacking catalysts), especially if you look at the price movement chart above! Will a similar pattern to 1Q20 emerges in 1Q23?

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